Theresa May To Reveal Brexit Plan Before Triggering Article 50 – But What Is The Plan?

Following months of pressure and scrutiny applied largely by the Labour Party, Theresa May has revealed that the Government will reveal its Brexit plans before triggering Article 50 and begin the process of leaving the European Union.

Leaving the European Union is likely to affect British businesses and trade in a variety of ways. There are several potential outcomes that are possible depending on Britain’s negotiating stance.

One of the main reasons why Britain voted out was to control immigration and block the free movement of people. However, several European figures have stressed that access to the Single Market is impossible if free movement is rejected.

Not operating within the Single Market means the UK is likely to have to pay a tariff for trades, and will have to establish a completely new trade agreement. There are stark warnings that leaving the Single Market could cost jobs, with businesses and finance relocating elsewhere in Europe.

With the UK seemingly adopting a “hard Brexit” stance, meaning leaving the Single Market, Customs Union and rejecting free movement, it appears that Government is listening to the concerns of the British people regarding border control.

Worryingly, major supermarkets have warned that a hard Brexit will put the UK’s food supplies at risk as migrant workers and tariff-free access to the Single Market are essential to the industry.

The pact, including Morrisons, Sainsbury’s, Marks and Spencer and the National Farmers’ Union, penned a letter to the Prime Minister, published in the Times.

Despite several indicators that have either leaked or diverged from Downing Street, only really the Government knows what the plan is and what post-Brexit Britain will look like.

Labour leader Jeremy Corbyn, and several other politicians from the Party, has consistently attempted to compel information from the Government so the public aren’t completely in the dark. Their efforts so far have been fruitless, but did manage to force the Government to reveal their Brexit plan before triggering Article 50.

It seems ironic that the Prime Minister is working so hard to bypass Parliament, as Parliamentary sovereignty is another key aspect of the Leave decision. Many voters lamented EU laws, and wanted Parliament to be in charge.

MyFinances.co.uk was established to deliver accurate financial information that can help anyone that wants to take control of their finances achieve financial freedom.
My Finances is your go-to place for online news. This site gives you an exceptional variety of news and information that helps you make the right financial decisions. We provide features, guides, access to companies offering professional advice & comparisons for smart money choices.

About Myfinances

MyFinances.co.uk was established to deliver accurate financial information that can help anyone that wants to take control of their finances achieve financial freedom. My Finances is your go-to place for online news. This site gives you an exceptional variety of news and information that helps you make the right financial decisions. We provide features, guides, access to companies offering professional advice & comparisons for smart money choices.